A new report said Her Majesty’s cash reserves were at a “historic low” with just 1 million pounds – about $1.6 million – left, according to members of Parliament, who advised her royal courtiers to tighten up their free-spending ways.

The members said her advisers had shelled out so much cash that her reserves had plummeted from 35 million pounds in 2001 to only a million today, with little oversight according to The Telegraph.

“We believe that the treasury has a duty to be actively involved in reviewing the household’s financial planning and management — and it has failed to do so,” sniffed the Labor Party’s Margaret Hodge.

And while spending has soared, Buckingham Palace and Windsor Castle are falling apart and in desperate need of repairs, members claimed.

“The household must get a much firmer grip on how it plans to address its maintenance backlog. It has not even costed the repair works needed to bring the estate back to an acceptable condition,” Hodge said.

But a Buckingham Palace spokesman defended the royals, saying the family’s finances were in good shape and that repairing the royal palaces was a “significant financial priority.”